Our Montana property is listed

[Curval]

Originally posted by ra
Curval,

If you are seriously interested in buying property in the US you should hire someone who knows US tax laws.  To lose 50% of the value because of the estate tax would require remarkable financial ineptitude.  

First, there is a $1.5 million exemption.  How much property were you going to buy?  Secondly, if you leave your property to non-US citizens, I'm pretty sure they don't have to pay a US estate tax.

If you can afford to buy more than $1.5 million in US property, you can afford a decent tax attorney to guide you through the paperwork.

ra

When I was researching the issue that exemption was for US residents only.

The second point was a non-starter too.

Maybe the rules have changed.

[Curval]

Originally posted by Ripsnort
Curval, I'm pretty sure you can buy and sell property without being a US citizen, the taxes you pay for a sale is 28%.

Think investment.

You missed my point.

Sure I can buy and sell US property.  But, if I die while holding US real property it attracts US Estate duty taxes.

I think investment all the time.  Conservative investments.

[Ripsnort]

Here are some Non-resident US tax laws Curval.

http://invest-faq.com/articles/tax-non-us-nat.html

Yeah, I probably did miss your point.  you were thinking of after you were gone, I was thinking of living in today and investment.

[Curval]

For ra

[Curval]

Take a look at my link Rip.

[Ripsnort]

Originally posted by Curval
Take a look at my link Rip.

I don't know too many people who think about dying at age 40 Curval, most of my peers are thinking investment. But I understand where your coming from, so consider yourself unable to qualify for this property.

[Curval]

Live for today and don't worry about the future?

Accidents happen.  People die every day "before their time".

Whenever I get involved in ANY investement I always think "What will happen to this if I get hit by a bus tomorrow?"

Must be the accountant in me.  I do the same thing for my clients.

[Ripsnort]

Nothing wrong with thinking future, Curval.  Another angle is what this will be worth in 5 years, the captial gain would outweigh the property taxes paid.  Its worth 7 times more today than it was when I bought it in 1991.

[ra]

Curval,

It's a shame but US tax codes are way more complex than a 2-sentence blurb on a web site can encapsulate.  The US has death tax treaties with most European countries, plus Canada and Japan.  Unless you are from Outer Mongolia, you would probably qualify for the same death tax as a US citizen.  But my point is that unless you have spoken with someone who knows the ins and outs of the US tax code, you can't make an informed decision about the estate tax.  Or any other US tax, because the tax code is frikken insane.

ra

[Curval]

True, IF I live for those 5 years.  If not your government takes half, or close to half, of the value.  I think my wife would have 90 days to get the cash together otherwise the property would be sold and the taxes removed from the proceeds.

[Curval]

Originally posted by ra
Curval,

It's a shame but US tax codes are way more complex than a 2-sentence blurb on a web site can encapsulate.  The US has death tax treaties with most European countries, plus Canada and Japan.  Unless you are from Outer Mongolia, you would probably qualify for the same death tax as a US citizen.  But my point is that unless you have spoken with someone who knows the ins and outs of the US tax code, you can't make an informed decision about the estate tax.  Or any other US tax, because the tax code is frikken insane.

ra

ra...agreed.

I did speak to a few advisors when the issue of the Colorado property arose.

In many cases you can get tax relief when your country of domicile has a double taxation treaty with the US.

We don't.  

That site I posted has it right...the tax laws for non-residents are draconian.

[beet1e]

I'm sure a good builder would be able to underpin the foundations and shore it up so that it's straight again.

[Ripsnort]

Originally posted by beet1e
I'm sure a good builder would be able to underpin the foundations and shore it up so that it's straight again.

 Took me a 2nd cup of coffee to "get it".

Here is an icefishing pic at the upper private lakes, this was all for about 45 min. of fishing, good thing too because it was -5 degrees this day:

[Sandman]

Looks fantastic... sent you a note.

[JBA]

Looks like a great spot to start my CULT.